1 Book lint Ask Exercise 2-15 (Algo) Calculate dividends using the accounting equation LO 2-2, 2-3 At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $13,100 and liabilities of $5,700. During the year, liabilities decreased by $1,000. Net Income for the year was $3,250, and net assets at the end of the year were $8,250. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Print Stockholders' Equity erences Assets Liabilities PIC RE Beginning $ 13,100 $ 5,700+ $ 0+ Changes (1,000)+ Changes Ending ders' Equity RE + + + + Dividends Net income + Dividends + Net income Stockholders' Equity Liabilities + PIC 4 RE 5,700 + $ 0+ (1,000) + 0+ 0+ Dividends Net income + Dividends + Net income